Corning (GLW) Stock Forecast, Price & News

10 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Corning in the last year. There are currently 4 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" GLW shares.
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10 analysts have issued 12 month price targets for Corning's stock. Their GLW share price forecasts range from $33.00 to $42.00. On average, they predict the company's stock price to reach $37.89 in the next year. This suggests a possible upside of 22.7% from the stock's current price.
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Corning's stock was trading at $31.94 at the start of the year. Since then, GLW shares have decreased by 3.3% and is now trading at $30.89.
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Corning saw a drop in short interest in May. As of May 15th, there was short interest totaling 6,210,000 shares, a drop of 10.8% from the April 30th total of 6,960,000 shares. Based on an average daily trading volume, of 4,310,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.8% of the company's shares are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, July 25th 2023.
View our GLW earnings forecast.

Corning Incorporated (NYSE:GLW) issued its quarterly earnings data on Tuesday, April, 25th. The electronics maker reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The electronics maker earned $3.37 billion during the quarter, compared to the consensus estimate of $3.35 billion. Corning had a trailing twelve-month return on equity of 13.99% and a net margin of 6.66%. The business's quarterly revenue was down 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.54 EPS.
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Corning announced a quarterly dividend on Thursday, April 27th. Shareholders of record on Wednesday, May 31st will be given a dividend of $0.28 per share on Thursday, June 29th. This represents a $1.12 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Tuesday, May 30th.
Read our dividend analysis for GLW.

ETFs with the largest weight of Corning (NYSE:GLW) stock in their portfolio include ProShares S&P Technology Dividend Aristocrats ETF (TDV), First Trust Capital Strength ETF (FTCS), ALPS Sector Dividend Dogs ETF (SDOG), Motley Fool Next Index ETF (TMFX), ASYMmetric Smart S&P 500 ETF (ASPY), US Equity Dividend Select ETF (RNDV), First Trust Expanded Technology ETF (XPND) and First Trust Technology AlphaDEX Fund (FXL).

Corning (NYSE:GLW) pays an annual dividend of $1.12 per share and currently has a dividend yield of 3.59%. The company has been increasing its dividend for 13 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 105.66%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, GLW will have a dividend payout ratio of 47.46% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GLW.

Corning updated its second quarter 2023 earnings guidance on Thursday, April, 27th. The company provided earnings per share guidance of $0.42-$0.49 for the period, compared to the consensus estimate of $0.48. The company issued revenue guidance of $3.40 billion-$3.60 billion, compared to the consensus revenue estimate of $3.57 billion.

413 employees have rated Corning Chief Executive Officer Wendell P. Weeks on Glassdoor.com. Wendell P. Weeks has an approval rating of 79% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Corning investors own include Intel (INTC), Cisco Systems (CSCO), NVIDIA (NVDA), AT&T (T), QUALCOMM (QCOM), Micron Technology (MU), Advanced Micro Devices (AMD), General Electric (GE), Walt Disney (DIS) and Johnson & Johnson (JNJ).

Corning trades on the New York Stock Exchange (NYSE) under the ticker symbol "GLW."

Corning's stock is owned by many different institutional and retail investors. Top institutional investors include BlackRock Inc. (6.52%), Wellington Management Group LLP (3.95%), State Street Corp (3.72%), Ameriprise Financial Inc. (1.88%), Geode Capital Management LLC (1.86%) and Dimensional Fund Advisors LP (1.10%). Insiders that own company stock include Anne Mullins, Cheryl C Capps, Clark S Kinlin, David L Morse, David L Morse, Display Co Ltd Samsung, Edward A Schlesinger, Eric S Musser, John P Bayne Jr, John Z Zhang, Lawrence D Mcrae, Lawrence D Mcrae, Lewis A Steverson, Li Fang, Martin J Curran, Michael Alan Bell, R Tony Tripeny, Robert P France, Robert P France, Roger W Jr Ferguson, Stefan Becker, Thomas Peterffy, Wendell P Weeks and Wendell P Weeks.
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Shares of GLW stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GLW stock can currently be purchased for approximately $30.89.

Corning (NYSE:GLW) has a market capitalization of $26.26 billion and generates $14.19 billion in revenue each year. The electronics maker earns $1.32 billion in net income (profit) each year or $1.06 on an earnings per share basis.

The company employs 57,500 workers across the globe.

Corning's mailing address is ONE RIVERFRONT PLAZA, CORNING NY, 14831. The official website for the company is www.corning.com. The electronics maker can be reached via phone at (607) 974-9000, via email at irinfo@corning.com, or via fax at 607-974-2063.